Cardano [ADA] leading the way to transparency

IOHK confirm audit completion

Cardano’s native organization defined Icarus as an open-source code base. Built to be used as a reference to further create secure and light mobile wallets for Cardano. It also aims to provide developers to have access to tools that they require to build on the ecosystem.

Ready for a smooth adoption

Input-Output, the science and engineering firm headed by the Founder of Cardano, Charles Hoskinson recently announced an audit conducted by Kudelski Security for its Icarus project. Icarus is a code developed by IOHK as a reference implementation for a Cardano light wallet, just like Yoroi that was launched previously.

The firm that audited the code is a third-party and independent security auditor that has contributed to IOHK several other times.

“This ensures our customers and clients have the most secure wallet we can provide.”

Raising capital vs the success

Charles Hoskinson spoke about the correlation between different cryptocurrency ecosystems raising capital vs the success that they achieve. Specifically, about EOS and Tezos, Hoskinson stated that they can lure parties into building on their blockchain, at their best, which is a short-term boost to the ecosystem.

It was stated by a user that EOS raised about $4 billion whereas Cardano only managed to scrape around $60 million as capital for the development of the ecosystem. Regarding this, the user also asked if the money raised makes a difference to the success of these ecosystems.

Hoskinson responded and explained that the 2nd largest cryptocurrency in the world, Ethereum, raised only about $18 million to get to this position. Whereas the leading coin in the cryptocurrency space did not raise any capital. In his words:

“It’s kind of funny that the number two cryptocurrency raised 18 million to get where it’s at and the number one cryptocurrency raised nothing. So if you think about that, there is strong evidence in the space – the amount of money you raise doesn’t really have a lot to do with your ability to succeed.”

Despite the developments, ADA, Cardano’s native cryptocurrency token has not been doing great in the market. At press time, the token was trading at $0.074 with a market cap of $1.93. It is currently experiencing a slump of 2.67% with a total 24-hour trading volume recorded at $22.5 million.